Drill Results Confirm Graphite Mineralization Over 1,200 Meters of Strike Length at Noram Ventures' Kokanee Property in British Columbia
All holes intersected graphite mineralization over true widths of 60 to 137 meters; initial NI 43-101 resource estimate forthcoming
Vancouver, British Columbia – February 26, 2013 – Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to report final assay results from the initial drilling program completed on the Kokanee Flake-Graphite Property, located ~50 kilometers (km) northeast of the city of Nelson, British Columbia.
The program consisted of 1,376 meters (m) NQ core drilling completed over six holes to test a graphite bearing horizon where outcrop samples ranged from 0.70 to 7% graphite. This favorable horizon is indicated by a 2km electromagnetic anomaly over widths of 100 to 200m.
The drilling was successful in meeting its objective of establishing the potential of a flake-graphite deposit being present on the Property with assay results confirming that all six holes intersected appreciable graphite mineralization ranging from true widths of 60 to 137m over a 1,200m strike length. Drilling has now confirmed graphite mineralization from surface to depths of 150 to 200m and the zone is open in both directions along the 2km strike length.
Assay intervals from the last three drill holes at a 1% graphite cut-off grade include:
*Hole KD12-006 was lost at a depth of 49m and hole KD12-006a ended in mineralization
** To review the previously reported results see news release of January 30, 2013
"We are truly pleased with the results from our initial drill program at the Kokanee Property, and with the uniformity of the graphite mineralization in particular as it is enabling us to produce an initial resource estimate for the deposit,” commented Dave Rees, President of Noram Ventures.
Quality Assurance/Quality Control:
All core samples are logged and split with half the core sent to the lab for analysis and half securely stored for future reference. Acme Analytical Laboratories Ltd. (Acme), a fully certified laboratory based in Vancouver, BC, conducted the sample preparation and analytical work, which included crushing and pulverizing a 250 gram split of the rock samples to 200 mesh. The graphitic carbon content was determined by igniting a 0.1 gram aliquot of the sample to 600 degrees Centigrade to burn off free carbon and leaching in HCL to dissolve all carbonate rock. The residue carbon content, which is pure graphite, was determined by a standard Leco process.
On conclusion of drilling and receipt of initial Acme assays, samples were selected for check assays at AGAT Laboratories in Vancouver. The results of these samples have been received and provide a good correlation to the original Acme assays.
John R. Kerr, P.Eng. and Qualified Person as defined in National Instrument (NI) 43-101, has reviewed and approved the technical content of this news release on behalf of the Company. All analytical results have now been received and Mr. Kerr will be completing an NI 43-101 Technical Report for Noram on the Kokanee and Jumbo graphite properties.
About the Kokanee Property:
Noram has an option to earn a 100% interest in the Kokanee Flake-Graphite Property, which covers an area of 1,659 hectares. Graphite is an industrial mineral, and ease of access and ease of extraction are just as important parameters as grade for determining economic viability of a graphite deposit. Infrastructure for a quarry mining operation is readily accessible in the Central Kootenays, with a paved highway within 2km of the project site and rail transportation 45km to the south.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM) is a Canadian based mineral exploration company with a project generator business model. The Company’s strategy is to identify and acquire early-stage properties that offer large-scale resource potential, and create value through the initial drilling and discovery phase. Noram’s current focus is on three properties in the Central Kootenay region of Southeastern British Columbia: the Jumbo Flake-Graphite Property, the Kokanee Flake-Graphite Property and the Silver Hill Molybdenum-Galena Property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David W. Rees”
President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding exploration work on the properties and the completion of the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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